Finance news – Page 157
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NewsHoulihan Lokey expands coverage of consumer market with Baylor Klein acquisition
Investment bank Houlihan Lokey has acquired boutique advisory firm Baylor Klein in a move that bolsters its coverage of the consumer sector
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NewsMedia Bites 14 July: PepsiCo, British Land, Morrisons
PepsiCo will increase its prices this year after it raised its full-year earnings forecast on surging demand for its drinks from people flocking to restaurants and theatres
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NewsCity Snapshot: SSP Group chief executive Simon Smith quits Upper Crust owner
SSP Group chief executive Simon Smith has quit his role at the Upper Crust and Ritazza owner to pursue opportunities elsewhere. Plus, trading updates from Finsbury Food Group, Science in Sport and McBride.
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NewsBepps bags six-figure backing from Mission Ventures’ Good Food Fund
As well as the funding, Bepps will also receive support and advice from Missions Venture, the food and drink start-up accelerator behind the Good Food Fund.
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NewsCity snapshot: Retail sales surge in June to create fastest quarterly growth on record
Retail sales strongly rebounded in June as shoppers returned to stores and grocery sales remained robust despite the reopening of pubs and restaurants
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NewsMedia Bites 13 July: Tate & Lyle, Uber, retail sales
Tate & Lyle has agreed to sell a controlling stake in its commercial sweeteners division in the Americas to KPS Capital Partners in a $1.3bn deal as the food group pivots towards healthier products.
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NewsCity snapshot: Tate & Lyle to split with £1.2bn sweeteners arm sale
Tate & Lyle is to divest its sweeteners division after this morning announcing it has agreed a £1.2bn deal with private equity player KPS Capital Partners to sell a controlling stake in the business
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NewsMedia Bites 12 July: Morrisons, Philip Morris, Ocado
Morrisons has written to farmers to calm fears that a planned takeover could undermine its agreements with suppliers
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NewsEthical Butcher surges past target to hit £1.1m in crowdfunding
The wholesaler launched a £400k crowdfunding campaign on Crowdcube this week
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NewsWarburtons boosted by Covid demand and push into non-bread
Warburtons’ sales and profits soared last year thanks to a spike in demand for core bakery products in the pandemic and an ongoing push into non-bread
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NewsMFG profits improve despite £1.1bn pandemic sales decline
The pandemic cost forecourt giant Motor Fuel Group £1.1bn in sales last year, but profits nevertheless improved as its grocery convenience sales boomed
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NewsSainsbury’s shrugs off inflationary pressures to hike profits expectations
Sainsbury’s has hiked its profit expectations for the full year despite pledging action on price and mounting inflationary pressures following better-than-expected sales in the first quarter
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NewsCity snapshot: Philip Morris buys UK pharma firm to broaden beyond tobacco
Tobacco giant Philip Morris International has agreed to acquire UK-based inhaled drug delivery specialist Vectura for £852m as part of an effort to broaden its business
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NewsMedia Bites 9 July: Deliveroo, Morrisons, B&M Bargains
Fears that the reopening of pubs and restaurants would take a big bite out of Deliveroo’s takings proved wide of the mark
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NewsSnappy Group to create 400 jobs with £20m in fundraising
Funding included a £6.6m investment from PayPoint
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NewsCity snapshot: Deliveroo ups sales forecast as second quarter orders surge past expectations
Food delivery player Deliveroo has enhanced its full year sales forecast after announcing its second quarter revenues were significantly ahead of previously announced expectations.
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NewsMedia Bites 8 July: Morrisons, Wetherspoon, HGV driver crisis
Morrisons has sought to head off political opposition to a private equity takeover of the supermarket
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NewsCity snapshot: Wetherspoon bemoans food taxes as temporary hospitality VAT cut approaches end
Wetherspoon chairman Tim Martin has criticised the ‘tax inequality’ between supermarkets and the leisure trade as the government’s temporary reduction in hospitality VAT nears an end in September.
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NewsMedia Bites 7 July: Morrisons, Sainsbury’s, Ocado
Ministers will ask to meet with Morrisons’ management to seek assurances about its future following a US takeover bid
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NewsJustin King appointed advisor to board of Ellie Goulding’s hard seltzer brand Served
King - also a non-exec at M&S and a member of PwC’s Public Interest Body, has joined as a senior board advisor